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Motive (company)

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For the video game developer and studio of Electronic Arts, see Motive Studio.
Motive Technologies, Inc.
Company typePrivate
Industry
Founded2013[1]
FounderShoaib Makani, CEO[2][3]
Obaid Khan
Ryan Johns
HeadquartersSan Francisco, California
Area served
North America, United States, Canada, Mexico
Key people
Shoaib Makani, CEO
Obaid Khan, COO
Joe Moran, CFO
[4]
Number of employees
3,500[citation needed]
Websitegomotive.com

Motive is a technology company that creates hardware and software to improve the safety and productivity of physical operations. Motive serves a wide range of industries including transportation and logistics, construction, energy, field service, manufacturing, agriculture, food and beverage, passenger transit, retail, and the public sector.[5][6][7][8][9][10][11]

History

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Founding

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Shoaib Makani, Obaid Khan, and Ryan Johns founded Motive in 2013 to improve safety and efficiency for businesses. They began with an electronic logging device (ELD) solution for trucking companies. Later, Motive expanded the platform to serve the entire physical economy. Today Motive provides vehicle and equipment tracking, driver safety, compliance, maintenance, and spend management solutions for safety, operations, and finance teams.[12]

2022 rebrand

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In 2022, KeepTruckin rebranded as Motive.[13][14]

Present

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In 2022, Motive claimed that it serves more than 120,000 businesses.[15]

Funding history

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In 2013, the company raised seed capital in the amount of $2.3 million.[citation needed]

In 2015, the company received $8 million in Series A venture funding led by Index Ventures.[16]

In 2017, the company raised $18 million in Series B venture funding led by Scale Venture Partners, Index Ventures and GV, the venture capital investment arm of Alphabet Inc.[17]

In 2018, the company raised $50 million in Series C venture funding led by IVP, GV, Index Ventures, and Scale Venture Partners.[18]

In 2019, the company received $149 million in Series D venture funding, mostly from Capital.[19][20][21]

In 2021, the company secured $200 million in Series E venture funding, led by G2VP.[22][23][24]

In 2022, the company raised $150 million in Series F venture funding co-led by Insight Partners and Kleiner Perkins.[25][15] After funding, Motive reached a $2.85 billion valuation.[26]

See also

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References

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  1. ^ Soni, Jitendra (2020). "KeepTruckin review". TechRadar. Retrieved September 19, 2021.
  2. ^ "KeepTruckin is a new competitor for Uber Freight". CNBC Television. April 26, 2019. Retrieved May 21, 2021.
  3. ^ "FreightTech Award". Freightwaves. 2020. Retrieved May 21, 2021.
  4. ^ Feldman, Amy (April 23, 2019). "KeepTruckin Reaches $1.4B Valuation After $149M Fundraise In Latest Sign Of Cash Pouring Into Trucking Industry". Forbes. Retrieved May 20, 2021.
  5. ^ Choo, Lindsey (January 21, 2024). "Want Your Packages Delivered Faster and Cheaper? AI Is on the Case". The Wall Street Journal.
  6. ^ Banks, Martin (April 18, 2024). "Driving down the AI highway - Motive pitches platform upgrades at the trucking sector". Diginomica.
  7. ^ Brasher, Jade (April 11, 2024). "Motive debuts suite of AI technology at inaugural Vision conference". FleetOwner.
  8. ^ "STEP Energy Services tackles safety, compliance and equipment monitoring with Motive". www.gomotive.com.
  9. ^ "Fleet safety program at Aspen School District soars to the top of the class with Motive". www.gomotive.com.
  10. ^ "Ernst Concrete achieves 2,000% ROI and $6.5 million in savings with Motive dual-facing AI Dashcams". www.gomotive.com.
  11. ^ "FusionSite reduces safety incidents by 89% and high-risk driving behaviors by 92% with Motive". www.gomotive.com.
  12. ^ Brody, Liz (April 12, 2022). "The Trucking Industry Was Ripe for Disruption, and This Tech Company Made Billions Doing It". Entrepreneur. Retrieved November 18, 2024.{{cite web}}: CS1 maint: url-status (link)
  13. ^ "KeepTruckin Rebrands as Motive, Launches Automated Operations Platform". www.yahoo.com. Retrieved 2022-07-26.
  14. ^ "KeepTruckin Rebrands as Motive, Launches Automated Operations Platform". www.businesswire.com. 2022-04-12. Retrieved 2022-07-26.
  15. ^ a b "Automating the physical economy". www.kleinerperkins.com. Retrieved 2022-07-26.
  16. ^ "KeepTruckin Raises $8M Led By Index Ventures To Bring Logging Miles For Truckers Into The 21st Century". TechCrunch. 29 October 2015. Retrieved 2022-07-26.
  17. ^ "KeepTruckin raises $18 million as Silicon Valley eyes trucking industry". Reuters. 2017-05-18. Retrieved 2022-07-26.
  18. ^ "KeepTruckin raises $50 million from IVP, GV, others to grow its fleet management tech". VentureBeat. 2018-03-21. Retrieved 2022-07-26.
  19. ^ Kolodny, Lora (October 28, 2015). "KeepTruckin Hauls In $8M for Electronic Trucking-Log Technology". Wall Street Journal. Retrieved May 20, 2021.
  20. ^ Huff, Aaron (May 22, 2017). "KeepTruckin gets $18M in funding; plans to extend ELD telematics platform". CCJ. Retrieved May 20, 2021.
  21. ^ Sawers, Paul (March 21, 2018). "KeepTruckin raises $50 million from IVP, GV, others to grow its fleet management tech". Venture Beat. Retrieved May 20, 2021.
  22. ^ Jawaid, Aleena (2021-06-22). "KeepTruckin raises $190 Million in a Series E funding round, raising the company's valuation over $2 billion". Technologistan. Retrieved 2021-06-26.
  23. ^ Tan, Gillian (2021-06-17). "KeepTruckin Raises Fresh Funds Valuing Startup at $2.3 Billion". Bloomberg.
  24. ^ "KeepTruckin raises $190 million to invest in AI products, double R&D team to 700". TechCrunch. 17 June 2021. Retrieved 2022-07-26.
  25. ^ "Motive Raises $150 Million in Series F Funding // Cooley // Global Law Firm". www.cooley.com. Retrieved 2022-07-26.
  26. ^ "Insight, Kleiner Perkins Back Motive at $2.85 Billion Valuation". Bloomberg.com. 2022-05-25. Retrieved 2022-07-26.
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